Syndicate completes bridge accident compensation and destroys 12.9 million SYNDs

Syndicate announced that it has completed bridge accident compensation, distributed approximately 12.9 million SYNDs to affected users of Commons Chain, and additionally compensated 15% of the total loss. The compensation will be directly sent to the affected wallets on the Base chain, and the Gas fee will be borne by Syndicate Labs without any user intervention. At the same time, Syndicate Labs destroyed an equal amount of SYND from its treasury to reduce circulating supply, and waived its self-sustaining compensation demand for approximately 5.5 million SYNDs.